Today I am going to tell you about Federal Bank Salary for Officers as well as Clerks. In the last post I have told you about the exam pattern of Federal Bank Clerk as well as Officer. Today we will learn about the salary part. Here are the details of the salary of both Officer and Clerk.

Federal Bank Salary – Officer (JMGS Scale I)

The pay scale of the Officer Scale I will be similar to that of Probationary Officers of public sector banks. The Officers will be in the pay scale of Rs. 23700 – 980/7 – 30560 -1145/2 – 32850 – 1310/7 – 42020.The starting basic salary as you can see will be Rs. 23700. The Officer will also be eligible for Dearness Allowance, Lease rental or HRA, CCA, Medical and other allowances and & perquisites as per rules of the Federal Bank. At present the Dearness Allowance is 54.10%. As per the notification released by the Federal Bank the Cost to Company per annum would be a minimum of Rs. 7.50 Lakhs and maximum of Rs.9.40 Lakhs for Officers. The CTC is depending upon the place of posting and other factors.

Federal Bank Salary – Clerks

The pay scale of the Clerks will be similar to that of Clerks of public sector banks. The Clerks will be in the pay scale of Rs. 11765 – 655/3 – 13730 – 815/3 – 16175 – 980/4 – 20095 – 1145/7 – 28110 – 2120/1 – 30230 – 1310/1 – 31540.The starting basic salary will be Rs. 13075 (Rs. 11765 + 2 increments of Rs. 655). The official will also be eligible for DA, HRA/ Additional HRA, Medical and other allowances & perquisites as per the rules of the Bank. On CTC basis the Cost to Company per annum will be minimum of Rs. 3.99 lakhs and maximum of RS.4.41 Lakhs depending upon the place of posting and other factors.

I hope after reading the post now you must have good idea about Federal Bank Salary for Officers as well as Clerks.

In this post I am going to tell you about the RBI Assistant Salary, Perks and Allowances.

RBI Assistant salary is quite attractive and this job is considered as one of the best in the banking industry. In the conclusion part of this article I have given detailed reasons why this is such a good job.

RBI Assistant is considered better than that of IBPS PO mainly because of the facilities offered by the RBI. The work pressure is quite less in RBI Assistant and it is much better that any other job of any Public sector bank. In public sector banking jobs there is extreme pressure now-a-days and in such scenario RBI Assistant job is far better. Now I am going to tell you about the RBI Assistant Salary and perks.

Allowances: There will be various allowances apart from the basic salary. These allowances are Dearness Allowance, House Rent Allowance, City Compensatory Allowance, Transport Allowance etc.

Gross Salary of RBI Assistant: The gross salary of the RBI Assistant will be about Rs. 33000.00; this also includes HRA of 15%.

Perquisites: The best part of the RBI Assistant job is the attractive perquisites the bank offer. It is as good as Bank Probationary Officer. The various perquisites include Furniture allowance, newspaper allowance, briefcase allowance, medical facilities, accommodation (subject to availability), reimbursement for maintenance of vehicle, LFC facility etc.

Concessional Loans: RBI also provides its employees loans at very low rates. If you take the similar loans from any bank, the installments will be very high but with concessional interest rates it is very easy to take such loans as repayment is very easy. Indirectly you are saving a lot of money with this kind of facility.

Other Benefits: There are other benefits such as PF, NPS, Gratuity etc. In fact it is difficult to mention each benefit as there are so many attractive facilities which RBI offers to its employees.

RBI Assistant Annual CTC

So you can see that apart from the direct monetary benefits there are so many other components which are difficult to measure such as concessional loans, safe and healthy work environment, job security, regulated working hours, 5 days week etc. So it would not be fair to calculate the CTC without taking in to account such things however to calculate such benefits in monetary terms is not possible. On purely monetary terms basis the CTC will be around Rs. 3.80 lacs.

Why RBI Assistant Job is better than the Jobs of Nationalized Banks? In the beginning of the article I have told you that the RBI Assistant job is even better than that of Bank PO. Here I am giving reasons for that which will help you to understand why it is so. In RBI there are very less transfers whereas in other banks transfers are frequent. RBI offices and branches are located at good centers whereas banks are having branches everywhere. Therefore in RBI you will always remain at good city/centre, there is nothing like rural posting or difficult centre posting in RBI. The work pressure is very high in banks now-a-days however in RBI there is no such pressure. RBI is the apex bank of the country and carries a much bigger brand value than any other bank of the country.

So it is obvious that in the present scenario RBI assistant job is much better than the clerical as well as PO job of any other bank. RBI Assistant Salary and perks are also quite attractive.

Today I am going to tell you about the SBI Clerk salarystructure, allowances, perks, pay scale and CTC after the wage revision. Almost every year State Bank of India announces thousands of vacancies in clerical cadre. SBI clerk is one of the good career options if you are looking for Bank Jobs.

State Bank of India being the largest Bank of the country pays a decent salary to its Clerk. Before telling you about the SBI Clerk Salary there are a few important points which I want to tell all of you. The initial salary of a SBI Clerk may not appear very attractive but over a period there are substantial rise in the salary. Apart from the salary there are attractive perks as well as facilities available for a SBI Clerk. Aspect of job security and regulated working hours is another attractive feature of the job which cannot be ignored. Further, there are very few transfers in SBI clerical cadre hence there is an element of stability. In case of officers there are frequent transfers and the life of an officer in banks is very disturbed because of frequent transfers.

So when you are looking for a career of clerk in SBI you should take a holistic view. Salary should not be the only criteria for this job. You must also consider the aspects which I discussed in the second para of the article.

SBI Clerk Salary and perks

Now I am providing you details of SBI Clerk Salary and perks.

Pay Scale: In government jobs there is a concept of pay scale. The pay scale of a SBI clerk is Rs. 11765-655/3-13730-815/3-16175-980/4-20095-1145/7-28110-2120/1-30230-1310/1-31450. It means that the starting basic salary of a SBI clerk is Rs. 11765 thereafter there will be annual increments.

I would like to explain this pay scale as many students may find it difficult to understand. You can see that the starting basic salary is Rs 11765.00, thereafter there will be 3 annual increments of Rs. 655 and after 3 years the basic salary will become Rs 13730. If you have a close look at the pay scale you will see that there will be 20 annual increments and after 20 years the basic salary will become Rs 31450.00. However there are wage revisions in banks after every 5 years therefore pay scale will keep on changing over the years.

SBI Clerk Salary structure can be further explained as under:-

Basic Pay: Rs 11765.00

Special Allowance: Rs 911.00

Dearness Allowance: Rs 7694.00 (@60.7%)

HRA: Rs 1200.00 (approx)

Other various perks and allowances: Rs 3500.00

Gross Salary: Rs. 25000.00 (approx)

Other Benefits to SBI Clerk

As I told you that salary is only one part of the story. There are various other benefits which are available to SBI clerk. I am explaining here various benefits available to a SBI Clerk. Apart from the salary and allowance SBI clerk is entitled for about 45 leaves per annum such as privilege leave, casual leave etc. Privilege leaves get accumulated and from time to time one can encash it.

SBI clerk is also entitled for medical facility for self and family members as per the Bank’s norms. Facility of LFC and HTC are also available to a SBI Clerk. Facility of provident fund, pension, gratuity etc. is also available for SBI clerk. SBI clerk will also get concessional loans as a staff member and get higher rates on deposits. SBI clerk can also appear in promotional exam and can become officer just after 3-4 years of salary. Once you become officer you will be as good as a Probationary Officer.

Disclaimer: Due care has been taken while publishing information about SBI clerk salary. However please cross check the details from official website. Publishers are not responsible for any kind of discrepancy.

In this post I am going to explain you about IBPS Clerk Salary. IBPS Clerk is one of the most popular job in India. Every year lacs of students appear in this very popular exam. Therefore it is important to understand about the salary details of this popular post.

In this post I will give you complete details on IBPS Clerk Salary. I will tell you about basic salary, pay scale, perks, and various other benefits available for IBPS Clerk.

The last salary revision took place on 25.05.2015 (w.e.f November 2012) and the wage revision is going to be due from November 2017. In banks wage revision takes place every five years.

Salary for bank clerk remains similar across all public sector banks. In SBI the salary is high due to additional perks. Otherwise in all public sector banks salary is almost similar. So it does not make much difference whatever bak you get through IBPS.

Rs. 11765 is the initial basic salary, thereafter basic salary increases every year as per the increments shown in the brackets. There fore the initial Basic Pay of a clerk will be Rs.11765/-

Other Allowances

However Rs. 11765 is basic salary, on this basic salary there are various other allowances. The allowances can be described as under:-

In addition to Basic Pay, clerks in banks are eligible for the following allowances :-

Dearness Allowance (DA): Dearness Allowance or DA is the major allowance linked to IBPS Clerk Basic Salary. It is revised every quarter in the months of February, May, August and November. The DA revision takes place based on the CPI as declared by Government of India.

At present the Dearness Allowance rate is 45.60%. Normally DA keeps on increasing every quarter based on CPI but it can also come down.

Therefore on the starting basic of Rs. 11765 the dearness allowance is Rs. 5365

Special Allowance: Special Allowance was not the part of the IBPS Clerk Salary earlier. This has been added in the last wage revision. It is 7.75% of basic salary. Dearness allowance is also payable on it. For Example on the basic salary of Rs. 11765, Special Allowance will be Rs. 912 and DA on it will be Rs. 418

HRA: HRA is House Rent Allowance and it depends on the place of posting and it can be either 10% or 9% or 7.5% depending on the place of posting.

Perks: There are a few perks also for the bank clerk such as Newspaper Allowance, Conveyance Allowance etc. Monetary value of perks is around Rs. 1500 – Rs. 2000 and it varies from bank to bank.

Therefore you can see that the gross salary or emoluments of a Bank Clerk are about Rs. 21000 depending upon place of posting.

Other Benefits

There are various other benefits available to a Bank Clerk. Such as Medical Facility, Officiating Allowance, PF, Gratuity, Concessional loans, LFC facility etc. Banks also provide growth opportunities and a clerk can easily become an officer within 3-4 years of joining.